LIVINGSTON, NEW JERSEY—Gebroe-Hammer Associates has arranged the $13.4 million sale of 101-104 Van Ness Court in Maplewood, N.J. The multifamily property contains 88 apartment units with a mix of one- and two-bedroom options.
Gebroe-Hammer’s Joseph Brecher, managing director, David Jarvis, EVP, and Steven Follman, VP, arranged the sale of the property, which offers close proximity to shopping, restaurants, public schools and N.J. Transit’s Maplewood station.
In addition, the firm orchestrated additional sales throughout New Jersey, including:
- The $3.1 million sale of 141 Holmes Street and 353 Washington Ave. in Belleville;
- The $1.8 million sale of 73-81 North 7th St. in Newark;
- The $910,000 sale of 663-667 Eagle Rock Ave. and 445 Pleasant Valley Way, a commercial property in West Orange; and
- The $660,000 sale of 10 East Summer Street in East Orange.
“New Jersey’s urban and suburban centers continue to provide potential investors with a growing number of opportunities that have substantial value-add opportunities,” said Ken Uranowitz, president. “In the current marketplace, which is marked by competitive-to-aggressive multifamily pricing and record-low interest rates, well located properties tend to sell extremely fast due to a lack of for-sale product and ever-growing investor demand.”